33 MONSON ROAD, ROYAL TUNBRIDGE WELLS, TN1 1LS

WELL SECURED RESTAURANT INVESTMENT LET TO ASK RESTAURANTS FOR A FURTHER 17 YEARS INVESTMENT CONSIDERATIONS

Located in the affluent commuter town of Tunbridge Wells, benefiting from excellent communications to London Bridge, Charing Cross and Cannon Street Let to the 5A1 tenant Azzurri Restaurants Limited until 2033 (17 unexpired years) Situated immediately off Tunbridge Well’s prime retail and leisure pitch Comprising ground floor restaurant accommodation and basement ancillary space totalling approximately 3,617 sq ft Freehold Rent of £85,250 pa Offers sought in the region of £1,690,000 (One Million Six Hundred and Ninety Thousand Pounds) subject to contract and exclusive of VAT. A purchase at this level reflects a net initial yield of4.75% assuming purchaser’s costs of 6.11%. A505 Stevenage Dunstable Stansted Luton Luton Bishop’s A120 A418 Knebworth Stortford A5 A10 A1(M) A602 A44 M1 A131 A130 A34 Aylesbury Harpenden Welwyn Garden City A40 Hertford A414 M11 A41 Harlow A12 OXFORD Berkhamsted Hemel St Albans Hatfield A4142 Thame Hempstead M10 A414 Chelmsford A138 M40 A420 J21 A414 A404 Potters Bar Chipping A4010 Chesham J20 Potters Bar Epping J23 Ongar J25 J19 Borehamwood M25 J27 Loughton M25 Watford A1 Barnet Enfield High Rickmansworth M11 A130 High South Wycombe A355 A413 South Billericay Wycombe Oxney Chigwell Brentwood Oxney Chigwell J28 Wickford Harefield Brent Tottenham Wickford M40 Woodford Harrow M1 Cross A10 A12 A127 Ruislip J29 Basildon A404 J16 Wembley Hampstead Romford Ilford Ilford Benfleet Uxbridge Southend-on-Sean A

Henley-on-Thames A40 w y 2 o a A34 6 D

Canvey W Canvey n

Maidenhead Maidenhead t Southall e A13 S

Slough d Slough h M25 Stanford-le-Hope r t

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Brentford Brentford C ’ r Fulham d s Windsor Fulham Roa o Windsor Hounslow A2 yng Hounslow B R n e Clapham o Heathrow Clapham v M4 A316Richmond a s M4 o M25 Dartford d LOCATION READING r G r ( ) Staines Gravesend Sheerness e A329 M Ashford Kingston p Egham d p d J2 a Kent & Sussex A U a A20 o 2 o

Bracknall R t Bracknall Upon Thames Hospital 6 R Upon Thames ’s R S l n r o Wokingham Ascot Bromley y n G e Wokingham Bromley a a e Royal Tunbridge Wells is a prominent spa town located J12 Swanley E l d d A309 A23 Swanley C r r h o m M3 A3 a ve J3 Gillingham se l s a u v A322 Rochester C d C R e o d Walton-on-Thames Croydon la V oa Walton-on-Thames il n ictoria R within the county of Kent in close proximity to its A21 M V d A232 r Bagshot M2 o k R G ly c er R ar ne o v den M25 M20 u R no o Ro Sutton x a a Royal Victoria Place ad P M H d Sandhurst a ount M3 Epsom Sittingbourne rk Ephrai Shopping Centre Rd border with East Sussex. The historic and affluent R m Road ne Shoreham Snodland oa ow d Ne d J10 n wto s A217 i Lim n n Woking a e Ro a r Hi L Biggin Hill h ll R oad ad A339 p d A22 a D town is approximately 30 miles (48 km) south east of J9 J5 M26 M20 E udle d t o y Roa Ca d l Famborough H n R ve r u u a Monson Roa le r o n York Road d y s o R Fleet M25 t M A331 Sevenoaks w o o Sevenoaks R a Calver A3 Maidstone e d le London, 17 miles (27 km) south west of Maidstone, 12 Maidstone o d 264 y P J7 6 c a t r J8 J6 o n A k BASINGSTOKE 2 a G BASINGSTOKE d l a Oxted A o n rd A34 Oxted P en a s L L a a o d Aldershot R s Aldershot ch r d Reigate A26 n Chu a Reigate 4 a C d M3 e A26 o a a

n R l o d GUILDFORD e A v miles (19 km) south of Sevenoaks and 24 miles (39 km)GUILDFORD 6 2 e

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isho r B C k o D d ad Horley a Wood ’s o excellent transport links. TUNBRIDGE o p 6 R Staplehurst Bish t A264 2 c Gatwick e Alton Witley WELLS A p s Royal o Cranleigh A264 r Tunbridge P

A229 Wells A31 Crawley ad 3 Three Bridges o B20 2 t 23 0 R e G e e ro 2 l r ve H North East Grinstead a t ill R B North A264 V S oa h d ig Horsham H Camden 3 2 0 Park Horsham 2 B

A23 Haywards TRANSPORT LINKS Heath

Burgess Hill Tunbridge Wells Train Station provides direct Tunbridge Wells benefits from superb road communications Gatwick International Airport, routes to Central London with a fastest journey being located on the A21 which links directly to Junction London’s second largest airport, time of 45 minutes to London Bridge, 54 minutes 5 of the M25 approximately 12 miles (20 km) north is located 24 miles (39 km) to to London Charing Cross and one hour to providing access to London and the wider national the west. London Cannon Street. motorway network. In addition to the south the A26/7 connects the town with Brighton, Eastbourne and Hastings. Tunbridge Wells

ROYAL VICTORIA PLACE SHOPPING CENTRE

SITUATION

The property is situated on the southern side of the western end of Monson Road immediately off the town’s prime retailing and leisure pitch on Mount Pleasure Road. The property benefits from a return frontage and prominent corner location close to the street’s junction with Newton Road. Nearby occupiers comprise a number of national multiples including Marks & Spencer, Fenwick Department Store, Waterstones, Topshop, New Look and Fat Face amongst many others. Tunbridge Wells Train Station is situated 0.3 miles (0.5 km) to the south (0.3 miles) and Royal Victoria Place Shopping Centre is 0.2 miles (0.3 km) to the north.

DESCRIPTION

The subject property comprises a restaurant arranged over ground and basement floors. The ground floor comprises restaurant accommodation of approximately 90 covers with the kitchen and preparation area to the rear. MOUNT PLEASURE ROAD The basement provides ancillary storage accommodation and customer WC facilities. In addition there is a small courtyard to the side of the property which provides external seating for approximately 12 covers.

ACCOMMODATION

Description NIA GIA sq ft sq m sq ft sq m Ground Floor Restaurant 1,816 169 1,851 172 North Ground Floor Kitchen 458 43 474 44 Basement 1,146 106 1,292 120 50 metres Total 3,420 318 3,617 336 Copyright and confidentiality Experian, 2016. © Crown copyright and database rights 2016. OS 100019885

© Crown Copyright, ES 100004106. For identification purposes only.

Experian Goad Plan Created: 05/10/2016 50 metres Created By: Allsop

Copyright and confidentiality Experian, 2016. © Crown For more information on our products and services: copyright and database rights 2016. OS 100019885 www.experian.co.uk/goad | [email protected] | 0845 601 6011 DEMOGRAPHICS AND POPULATION TENANCY Tunbridge Wells has a primary catchment area of The entire property is let to AZZURRI RESTAURANTS LIMITED on a full repairing and insuring 307,000 with an estimated shopping and leisure lease for a term of 35 years from 17th September 1998 expiring 16th September 2033 at a current population of 186,000. The town is projected to see an passing rent of £85,250 pa. The rent is subject to open market 5 yearly upwards only rent reviews. above average growth in population over the period Please note the current rent passing was increased from £82,500 at the 2013 review which was decided 2016-21. Tunbridge Wells has a significantly above at arbitration - a copy of the arbitration report is available on our dataroom. average proportion of the population falling within the most affluent AB social group; in contrast the least COVENANT affluent D and E social groups are particularly under- The Azzurri Group is a market leader in the Italian casual dining sector, operating ASK Italian, represented. Reflecting the affluent population the town’s Zizzi and Coco di Mama. The Group employs nearly 6,000 people, serving over 15 million retail and leisure spending per capita is significantly above meals a year in their growing estate of over 250 restaurants and shops. the national average and this is expected to see further growth over the period 2016-2021. Tunbridge Wells also Date of Accounts 28 Jun 2015 29 Jun 2014 30 Jun 2013 benefits from being a popular tourist location receiving Turnover (000’s) £217,670 £204,305 £193,947 approximately 308,000 visitors per year generating an Pre-Tax Profit (000’s) £17,357 £30,436 £4,897 annual spend of £58 million. Total Net Worth (000’s) £45,592 £156,348 £141,386 EPC

The property has an EPC rating of F142.

VAT

The property is elected for VAT and it is anticipated that the transaction will be treated as a transfer of a going concern (TOGC).

DATAROOM

Further information is provided in the dataroom. For access please register on the following website http://datarooms.allsop.co.uk/register/ASKTW

PROPOSAL Offers sought in the region of £1,690,000 (One Million Six Hundred and Ninety Thousand Pounds) subject to contract and exclusive of VAT. A purchase at this level reflects a net initial yield of 4.75% assuming purchaser’s costs of 6.11%.

For further information or to make arrangements for viewing please contact

Liam Stray Alex Butler 020 7543 6769 020 7543 6722 [email protected] [email protected]

www.allsop.co.uk

Misrepresentation Act: 1. Allsop LLP on its own behalf and on behalf of the vendor/lessor of this property whose agent Allsop LLP is, gives notice that: (a) these particulars do not constitute in whole or in part an offer or contract for sale or lease; (b) none of the statements contained in these particulars as to the property are to be relied on as statements or representations of fact; and (c) the vendor/lessor does not make or give, and neither Allsop LLP nor any of its members or any person in its employment has any authority to make or give, any representation or warranty whatsoever in relation to the property. The only representations, warranties, undertakings and contractual obligations to be given or undertaken by the vendor/lessor are those contained and expressly referred to in the written contract for sale or agreement for lease between the vendor/lessor and a purchaser or tenant. 2. Prospective purchasers or tenants are strongly advised to: (a) satisfy themselves as to the correctness of each statement contained in these particulars; (b) inspect the property and the neighbouring area; (c) ensure that any items expressed to be included are available and in working order; (d) arrange a full structural (and where appropriate environmental) survey of the property; and (e) carry out all necessary searches and enquiries. Allsop is the trading name of Allsop LLP. Design: CommandD www.commandHQ.co.uk 10.16